M/I Homes, Inc. (NYSE:MHO) Receives $160.00 Average Price Target from Analysts

Shares of M/I Homes, Inc. (NYSE:MHO) have been assigned an average rating of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $160.00.

A number of equities research analysts recently commented on MHO shares. Citizens Jmp began coverage on M/I Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price objective for the company. Weiss Ratings restated a “hold (c+)” rating on shares of M/I Homes in a research report on Wednesday, October 8th. Raymond James Financial upped their price target on M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday, October 24th. Zacks Research raised shares of M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Citigroup started coverage on M/I Homes in a report on Wednesday, January 7th. They set an “outperform” rating on the stock.

Institutional Trading of M/I Homes

A number of institutional investors have recently modified their holdings of the company. Donald Smith & CO. Inc. boosted its position in M/I Homes by 9.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 1,408,390 shares of the construction company’s stock worth $157,909,000 after acquiring an additional 125,423 shares during the last quarter. American Century Companies Inc. increased its stake in M/I Homes by 10.9% in the 3rd quarter. American Century Companies Inc. now owns 936,597 shares of the construction company’s stock valued at $135,282,000 after buying an additional 91,732 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of M/I Homes by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 572,975 shares of the construction company’s stock valued at $64,242,000 after acquiring an additional 2,021 shares in the last quarter. Invesco Ltd. grew its position in shares of M/I Homes by 116.4% in the 3rd quarter. Invesco Ltd. now owns 300,912 shares of the construction company’s stock valued at $43,464,000 after acquiring an additional 161,881 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of M/I Homes by 26.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 266,582 shares of the construction company’s stock valued at $38,505,000 after acquiring an additional 55,206 shares during the period. 95.14% of the stock is currently owned by institutional investors.

M/I Homes Price Performance

Shares of M/I Homes stock opened at $139.66 on Friday. M/I Homes has a fifty-two week low of $100.22 and a fifty-two week high of $158.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.15 and a quick ratio of 1.59. The company has a market cap of $3.65 billion, a PE ratio of 8.20 and a beta of 1.75. The firm has a fifty day moving average price of $131.21 and a two-hundred day moving average price of $133.47.

M/I Homes (NYSE:MHO) last announced its quarterly earnings results on Wednesday, October 22nd. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.37 by ($0.45). M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.16 billion. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that M/I Homes will post 18.44 EPS for the current year.

M/I Homes declared that its Board of Directors has authorized a share buyback program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

M/I Homes Company Profile

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.